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Journalise for University Cycle Shop:

Journalise for University Cycle Shop:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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S9-6 Collecting a receivable previously written off University Cycle Shop had trouble collecting its account receivable from Emmert. On 19 January, University finally wrote off Emmert's $600 account receivable. University turned the account over to a debt collector, who hounded Emmert for the rest of the year. On 31 December, Emmert sent a $600 cheque to University Cycle Shop. Requirement Journalise for University Cycle Shop: Jan 19 Write-off of Emmert's account against Allowance for doubtful debts Dec 31 Reinstatement of Emmert's account 31 Collection of cash from Emmert
Transcribed Image Text:S9-6 Collecting a receivable previously written off University Cycle Shop had trouble collecting its account receivable from Emmert. On 19 January, University finally wrote off Emmert's $600 account receivable. University turned the account over to a debt collector, who hounded Emmert for the rest of the year. On 31 December, Emmert sent a $600 cheque to University Cycle Shop. Requirement Journalise for University Cycle Shop: Jan 19 Write-off of Emmert's account against Allowance for doubtful debts Dec 31 Reinstatement of Emmert's account 31 Collection of cash from Emmert
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